Tax Haven Nevis

Nevis tax haven is a small island in the Caribbean and together with the neighboring island of St Kitts forms the Federation of St Kitts and Nevis. The tax haven of Nevis provides superior offshore services for a large clientele. Nevis has gained an established reputation as one of the Caribbean’s leading offshore financial centers and service provider. The offshore services provided in Nevis tax haven are offshore banking, incorporation of Nevis exempt companies or Nevis Corporation, the formation of Nevis Multiform foundations, the incorporation of Nevis LLC and the formation of Nevis exempt trust.

Nevis tax haven has been incorporating offshore companies from 1984 when the legislation regulating this type of Nevis Company was passed. An offshore company in Nevis tax haven is free from local taxes as long as it does no business within the jurisdiction. Such Nevis companies pay no income tax, corporate taxes, estate tax or inheritance taxes. An offshore company incorporated in Nevis can do business anywhere in the world since Nevis offshore companies are recognized worldwide. A Nevis offshore company that puts funds or assets raised outside Nevis in an offshore account in Nevis is not considered to be doing business in Nevis and so remains tax exempt.

Tax haven Nevis offers top of the class offshore banking to its clients. Offshore banking is based on the jurisdiction’s ability to provide banking secrecy and privacy for its clients. On the offshore tax haven of Nevis there is only one offshore bank which prides itself on providing efficient and dependable services. Offshore bank account customers in Nevis tax haven are protected by the Confidentiality Rrelationship Act which prohibits giving out information in an offshore bank account without the consent of the account holder. The offshore banking act also states that there is no need to file any financial statements regarding offshore banking accounts in the tax haven of Nevis. A very important benefit to opening an offshore bank account in Nevis tax haven is that there are zero taxes applied to funds or assets held in a Nevis offshore bank account.

Tax haven Nevis leads the competition when it comes to providing offshore services. The newest offshore entity introduced in Nevis tax haven is the Nevis Multiform Foundations which took effect in 2005. This type of business entity can be incorporated as offshore and a tax resident. Offshore multiform foundation pays no taxes whilst a tax resident multiform foundation will pay a low tax rate of just 1% of its annual taxable profits. A multiform foundation set up in Nevis tax haven can operate as an offshore trust, Business Company or an ordinary foundation.

Nevis tax haven provides privacy for clients as which is unsurpassed by many other tax havens in the world. The names of offshore business shareholders and directors are not made public knowledge and will not be given out to third parties or foreign parties without the consent of said persons. The same rule applies to offshore bank account holders. Tax haven Nevis is well known for providing asset protection.